Auto Trends

Credit Union Journal, The, May, 2008

Other findings released as part of CUDL’s 2008 Business Intelligence Report:

* The average new vehicle loan maturity in 2007 was 72 months.

* 69.3% of the loans had maturities greater than five years.

* Used vehicle loan maturities funded on the CUDL platform decreased from 70 months in 2006 to 65 months in 2007. “This is a reflection of market trends as J.D. Power and Associates reported that 82.0% of all auto loans originated in 2007 had maturities between 60 and 77.9 months,” the report found.

* CUs funded more than 10,000 RV, watercraft, and motorcycle loans in 2007. The average loan amounts for these vehicles ranged from $6,830 for an ATV to $25,039 for a boat.

For info: www.cudl.com.

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